Jim Rogers on why gold prices could temporarily collapse
Monday, May 04, 2009By Daily Crux guest poster Brett Owens:
Jim Rogers says that IMF sales of gold could drive the price of the barbarous relic below $700/ounce.
Rogers just told Bloomberg: "I own some gold, but I am not buying at the moment because the IMF, which is one of the largest owners of gold in the world, is desperate to sell its gold."
Rogers also adds: "If and when they sell their gold, they may set a bottom. Who knows? It may go down to $700. If it does, I hope I'm brave enough and smart enough to buy more."
Monday 4 May 2009
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